The Cinema Exhibitors Association of Nigeria (CEAN) on Wednesday said cinemas across the country generated ₦4.6 billion in the first half of 2024.
Ope Ajayi, Chairman of CEAN, in an interview with the News Agency of Nigeria (NAN) in Lagos, said the cinema played host to 1,199,661 visitors within the period under review.
According to him, there was an appreciable increase in revenue generated in the first half of the year when compared to revenue generated within the same period in 2023. He said ₦3 billion in revenue was generated in the first half of 2023.
Ajayi expressed excitement as revenue generated from Nollywood and Hollywood films in cinemas was beginning to be at par, describing the development as the way to go.
“Nollywood films raked in ₦2,325,930,952 while Hollywood films generated ₦2,321,273,174, as revenue in the first half of the year.
“We also recorded 559,122 total admissions for Hollywood films and 640,539 for Nollywood films.
“So, box revenue grew by 34% in the first half of the year, when compared with last year but admissions remain flat.
“We are happy that the revenue generated from Nollywood and Hollywood films are at par and Nollywood is projected to deliver higher box office revenue in the second half of the year.
“For the first time ever, we expect Nollywood to contribute more to the box office than Hollywood in 2025, while also projecting a 40% growth on last year’s box office.”
He said that Hollywood films to be out in August included: Alien Romulus; It ends with us; Trap; Blink Twice; Afraid; The Crow and Borderlands. Also, Nollywood films for August are: Betrayed; Move like a Boss; The weekend and Force Empire.